After the low cost Tata Nano, Tata has come out with low low-cost houses that would be available for Rs4-7 lakh.
The loans for low-cost houses are been offered by a subsidiary of Tata Sons, Tata Housing Finance and the booking for these houses has also started on May 11th.
Tata Housing launched its low-cost housing initiative named the Shubh Griha project on May 6th. The company plans to build apartments under the project at the rate that will be priced somewhere between Rs 4 lakh and Rs 7 lakh.
The booking amount for these apartments will start at Rs 10,000 and the bookings can only be made through bank pay order at selected branches of SBI across Mumbai. Further the application forms for the booking are available at SBI branches and can be availed for a price of Rs 200.
The booking for these low cost houses will be made in the next 20 days and the first list and the waiting list for the same is expected to be out 15 days after the final booking day.
The first township under the Shubh Griha project will be launched at Boisar in Mumbai.
The firm has also entered into agreements with SBI and HDFC to provide finance options to its potential customers.